First Community Bank Mortgage Rates, Fees & Info

Bluefield, VA

LEI: 5493007TJ86W1ZK4LZ15

Tax ID: 55-0118830

5 stars - Updated: 2/26/24 - out of 5 stars, based on 33 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

First Community Bank is a smaller bank specializing in Home Purchase and Refi loans. First Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bluefield, Blacksburg, Richmond, Beckley, and Kingsport among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Community Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.14% 2/26/24
30 Year Conventional Refi 5.90% 2/26/24
30 Year VA Purchase 6.27% 2/26/24
30 Year USDA Purchase 6.27% 2/26/24
15 Year Conventional Purchase 6.17% 2/26/24
15 Year Conventional Refi 5.83% 2/26/24
15 Year Cash-out Refi 5.83% 2/26/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

First Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,099

Origination Dollar Volume (All Markets)

$225,225,000
Show all (7) awards

Relative Rate

First Community Bank's average 30 year fixed mortgage rate was 4.5%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.26%.

Relative Fees (Closing Costs)

First Community Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $3,589.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 344 $57,330,000 $166,657 $3,547 4.56%
Bluefield, WV-VA (FHA|USDA|VA) 234 $35,520,000 $151,795 $3,180 4.60%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 92 $26,100,000 $283,696 $4,676 4.28%
RICHMOND, VA (FHA|USDA|VA) 24 $20,190,000 $841,250 $4,375 4.30%
BECKLEY, WV (FHA|USDA|VA) 104 $16,310,000 $156,827 $3,659 4.63%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 74 $12,400,000 $167,568 $3,375 4.65%
Boone, NC (FHA|USDA|VA) 12 $8,910,000 $742,500 $4,191 3.68%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 39 $8,255,000 $211,667 $4,202 3.94%
JOHNSON CITY, TN (FHA|USDA|VA) 27 $7,795,000 $288,704 $3,140 4.24%
ROANOKE, VA (FHA|USDA|VA) 19 $5,985,000 $315,000 $3,993 4.03%
Clarksburg, WV (FHA|USDA|VA) 34 $5,210,000 $153,235 $2,893 4.32%
WINSTON-SALEM, NC (FHA|USDA|VA) 19 $3,685,000 $193,947 $3,568 5.00%
Mount Airy, NC (FHA|USDA|VA) 20 $3,670,000 $183,500 $3,371 4.36%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $3,505,000 $389,444 $3,868 4.07%
MORGANTOWN, WV (FHA|USDA|VA) 9 $1,985,000 $220,556 $4,694 4.67%
LYNCHBURG, VA (FHA|USDA|VA) 1 $1,755,000 $1,755,000 $0 3.20%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $685,000 $228,333 $4,167 3.22%
Greeneville, TN (FHA|USDA|VA) 1 $685,000 $685,000 $0 3.85%
North Wilkesboro, NC (FHA|USDA|VA) 8 $620,000 $77,500 $2,465 5.08%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $495,000 $495,000 $7,704 4.50%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $495,000 $495,000 $10,569 6.00%
KNOXVILLE, TN (FHA|USDA|VA) 2 $490,000 $245,000 $4,629 2.70%
Elkins, WV (FHA|USDA|VA) 4 $400,000 $100,000 $3,123 4.19%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 1 $395,000 $395,000 $0 4.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,475 5.00%
Fairmont, WV (FHA|USDA|VA) 3 $345,000 $115,000 $3,224 4.41%
Big Stone Gap, VA (FHA|USDA|VA) 2 $300,000 $150,000 $3,461 5.21%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $295,000 $295,000 $4,556 2.75%
Mount Gay-Shamrock, WV (FHA|USDA|VA) 3 $205,000 $68,333 $2,117 4.61%
SUMTER, SC (FHA|USDA|VA) 1 $195,000 $195,000 $3,901 4.75%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $190,000 $95,000 $2,536 5.43%
CHARLESTON, WV (FHA|USDA|VA) 2 $160,000 $80,000 $2,730 4.55%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.80%
Sevierville, TN (FHA|USDA|VA) 1 $145,000 $145,000 $1,092 5.03%
First Community Bank's top markets include Bluefield, Blacksburg, Richmond, Beckley, and Kingsport among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FAIRMONT
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    NORTHEAST COMMUNITY
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    Horizon Credit Union
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    CONSUMER Credit Union
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    Clear Mountain Bank
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    Kingsport Press Credit Union
    Similarity Rank: 198
    FREEDOM FIRST
    Similarity Rank: 230
    HENRICO Federal Credit Union
    Similarity Rank: 420
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 624
    Telco Community Credit Union
    Similarity Rank: 657

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,099 $225,225,000 $204,936 $3,601 4.49%

    For 2022, First Community Bank's most frequently originated type of loan was Conventional, with 1,099 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 635 $140,515,000 $221,283 $4,063 4.71%
    Refi 372 $72,000,000 $193,548 $3,144 4.06%
    Home Improvement 44 $3,730,000 $84,773 $2,665 4.99%
    Cash Out Refi 26 $6,610,000 $254,231 $2,429 4.15%
    Other 22 $2,370,000 $107,727 $2,645 4.92%

    For 2022, First Community Bank's most frequently cited loan purpose was Home Purchase, with 635 originations. The 2nd most popular reason was Refi, with 372 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 341 $70,615,000 $207,082 $3,589 4.50%
    20 Year 318 $55,950,000 $175,943 $2,927 4.65%
    15 Year 191 $26,735,000 $139,974 $2,913 4.32%
    Other 110 $37,830,000 $343,909 $4,048 4.39%
    10 Year 76 $17,540,000 $230,789 $2,326 4.44%
    30+ year 38 $12,700,000 $334,211 $8,188 3.95%
    5 Year 21 $3,365,000 $160,238 $0 5.05%
    3 Year 3 $425,000 $141,667 $0 7.25%
    1 Year 1 $65,000 $65,000 $0 4.60%

    For 2022, First Community Bank's most frequently cited loan duration was 30 Year, with 341 originations. The 2nd most popular length was 20 Year, with 318 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 340 $45,760,000 $134,588
    $2k-3k 222 $56,350,000 $253,829
    $<1k 115 $10,455,000 $90,913
    $3k-4k 15 $5,595,000 $373,000
    $5k+ 14 $7,590,000 $542,143
    $4k-5k 7 $3,355,000 $479,286

    First Community Bank's average total fees were $3,589, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 340 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 305 $59,425,000 $194,836
    3-4% 274 $78,540,000 $286,642
    5-6% 244 $36,720,000 $150,492
    2.5-3% 130 $31,150,000 $239,615
    6-7% 84 $11,400,000 $135,714
    7-8% 27 $2,045,000 $75,741
    <2.5% 26 $5,590,000 $215,000
    Over 8% 9 $355,000 $39,444

    During 2022, First Community Bank's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 305 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 432 $61,470,000 $142,292 $3,284 4.29%
    $100,000 or less 340 $21,090,000 $62,029 $2,305 5.10%
    $200k-400k 230 $62,780,000 $272,957 $4,416 4.18%
    $400k-600k 59 $27,575,000 $467,373 $6,835 4.03%
    $600k-1MM 22 $17,270,000 $785,000 $11,457 4.25%
    $1MM+ 16 $35,040,000 $2,190,000 $8,622 3.80%

    2022 saw First Community Bank place emphasis on $100k-200k loans with 432 originations, totaling $61,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 244 $33,560,000 $137,541 $3,239 4.34%
    $50k or less 204 $20,470,000 $100,343 $2,735 4.79%
    $100k-150k 163 $37,485,000 $229,969 $4,513 4.26%
    $75k-100k 140 $23,420,000 $167,286 $3,894 4.45%
    $150k-250k 69 $15,485,000 $224,420 $4,453 4.22%
    $250k+ 32 $14,030,000 $438,438 $6,297 4.47%

    First Community Bank lent most frequently to those with incomes in the $50k-75k range, with 244 originations. The second most popular income band? $50k or less, with 204 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 201 $33,945,000 $168,881 $3,463 4.33%
    30-36% 169 $32,445,000 $191,982 $3,871 4.48%
    <20% 85 $11,815,000 $139,000 $3,158 3.99%
    39% 56 $10,150,000 $181,250 $3,776 4.43%
    40% 34 $7,320,000 $215,294 $3,973 4.22%
    38% 34 $7,520,000 $221,176 $4,511 4.22%
    37% 31 $5,905,000 $190,484 $3,729 4.20%
    36% 31 $6,585,000 $212,419 $3,917 4.18%
    41% 22 $4,190,000 $190,455 $3,223 4.09%
    42% 17 $2,735,000 $160,882 $3,249 4.31%
    43% 7 $1,395,000 $199,286 $3,382 3.47%
    50-60% 4 $390,000 $97,500 $2,586 4.76%
    >60% 3 $315,000 $105,000 $1,819 5.33%
    45% 1 $145,000 $145,000 $3,229 2.90%
    47% 1 $395,000 $395,000 $5,422 3.00%

    First Community Bank lent most frequently to those with DTI ratios of 20-30%, with 201 originations. The next most common DTI ratio? 30-36%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 836 $141,470,000 $169,222 $3,599 4.43%
    Not applicable 232 $77,690,000 $334,871 $0 4.68%
    Not provided 16 $3,940,000 $246,250 $3,916 4.63%
    Black 9 $935,000 $103,889 $2,879 5.06%
    Asian 3 $575,000 $191,667 $3,507 3.71%
    Other Asian 1 $445,000 $445,000 $5,557 3.75%
    Asian Indian 1 $95,000 $95,000 $0 5.50%
    Vietnamese 1 $75,000 $75,000 $0 5.90%

    Approval Rates

    Total approvals of all applications
    81.71%

    First Community Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.53%

    First Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,099 $225,225,000 $204,936

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,099 $225,225,000 $204,936

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $9,820,000 $140,286 $2,727 4.52%
    40-60% 177 $30,565,000 $172,684 $3,012 4.46%
    60-80% 334 $80,350,000 $240,569 $3,769 4.39%
    80-100% 505 $103,535,000 $205,020 $3,878 4.52%
    Over 100% 3 $375,000 $125,000 $3,141 4.93%
    Under 20% 7 $525,000 $75,000 $1,547 6.25%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%